During the session on Friday, we get the University of Michigan Consumer Sentiment numbers, the core Durable Goods Orders number, and GDP quarter over quarter for Q1 coming out of the United States. In other words, there’s plenty of headlines to move several markets.

Gold

Gold markets continue to chop around, but currently it looks as if we are trying to build up enough momentum to form a larger move. A break above the $1265 level could attract call buying, while a breakdown below the $1245 level below could bring put buyers into the marketplace.

USD/CAD

The US dollar tried to rally against the Canadian dollar during the day on Thursday, but struggled at the 1.3450 level. If we can break down below the bottom of the daily range, it’s possible that the put buyers will come back into the marketplace. However, if we break above the 1.3450 level, that could bring quite a bit of call buying into the market as we are sitting on a larger support level on longer-term time frames.

DAX

The DAX initially fell on Thursday but found enough support just above the €12,500 level to turn things around and form a positive looking and supportive candle. If we can break above the top of the range, essentially the €12,700 level, the market will more than likely attract call buyers.